The Competition and Consumer Commission of Singapore (“CCCS”) has cleared the proposed merger between Korea Shipbuilding & Marine Engineering Co., Ltd (“KSOE”) and Daewoo Shipbuilding & Marine Engineering Co., Ltd. (“DSME”) (collectively, the “Parties”) (the “Proposed Transaction”).

Following its assessment, CCCS has concluded that the Proposed Transaction, if carried into effect, will not infringe the section 54 prohibition of the Competition Act (Cap. 50B) (the “Act”).

Read the full media release here.